Usain Bolt Signs $10M Deal to Remain With Puma

Usain Bolt may be the only thing standing between Puma and potential irrelevance in the athletic apparel industry.

According to a story via Yahoo! Sports, the Olympic gold medallist and record holder, has re-signed with the company, in a deal that will run until the conclusion of the 2016 Games in Rio, when he intends to retire from sprinting.

Olympic sprint champion Usain Bolt will earn an estimated $10 million a year in a sponsorship deal with German sportswear company Puma that will take him to the end of his career.

Bolt will be paid $10 million for each of the next three seasons and the same amount if he competes again in 2017 when London hosts the world championships, an industry source said.

Once he retires from competition, he will be paid $4 million per year to act as a Puma ambassador, the source added.

The Jamican sprinter says that representing the company that is struggling to compete with industry giants Adidas and Nike, is something he’s proud of.

“I have always been very happy to be a part of the Puma family, I am proud to represent them and delighted to continue with them for the years ahead,” Bolt said in a statement.